Cessna Citation M2 Insurance Cost Examples
Cessna Citation M2 - Owner Pilot Transition from Cirrus SR22
| Coverage | Limits | Premium |
|---|---|---|
| Physical Damage | $3,000,000 | $35,000 |
| Aircraft Liability | $1,000,000 per occurrence | $5,000 |
| Total Premium | $40,000 |
Cessna Citation M2 - Owner Pilot Experienced
| Coverage | Limits | Premium |
|---|---|---|
| Physical Damage | $3,000,000 | $24,000 |
| Aircraft Liability | $5,000,000 per occurrence | $5,000 |
| Total Premium | $29,000 |
Cessna Citation M2 - Pro Pilot
| Coverage | Limits | Premium |
|---|---|---|
| Physical Damage | $3,000,000 | $23,000 |
| Aircraft Liability | $10,000,000 per occurrence | $5,000 |
| Total Premium | $28,000 |
Aircraft Summary
The Citation M2 is a part of the 525 series that has been turbocharged with FJ44-1AP-21 engines, offering up to 15% more thrust in cruise mode and 5% more power during hot-and-high conditions. It was released in September 2011 and based on the then out-of-production CJ1 variant, featuring a new cabin design and more efficient motors. The first prototype took flight on March 9th 2012; it was not a conforming airframe but instead tested the Garmin G3000 avionics and Williams FJ44-1AP-21 turbofans. A second aircraft joined the certification program in May 2012 for aerodynamics evaluations. After the discontinuation of the Citation Mustang in May 2017, the M2 became Cessna’s entry level jet.
Textron Aviation’s lightest single-pilot certified aircraft, the M2 Gen2, is a derivative of the Citation CJ1. The 525-series also includes the CJ2+, C3+ and CJ4 Gen2, which was the first plane for which Textron Aviation applied Gen2 in lieu of the + sign to denote an upgrade. Inside, there has been a thorough revamp with new styling and illumination including illuminated cup holders and more storage space. Wireless charging and USB ports have been added as well as sturdier entryway materials to prevent deterioration. The right seat pilot will be pleased with three extra inches of legroom for extra comfort. A side-facing seat in the cabin can hold up to fifty pounds with its backrest folded down.
Models We Cover
Valuation
The Cessna Citation M2 first started deliveries in 2013 and has a price range of $3,425,000 – $5,400,000. The Citation M2 Gen2 started deliveries in 2022 and has a price range of $5,790,000 – $5,855,000. The Citation M2 is the new, more expensive CitationJet. Lead times for the Citation M2 Gen2 is two years, as of February 2023.
Risk Areas
Citation M2 aircraft are newer and have a high hull value and therefore will attract more diligence from underwriters, especially for single pilot operations. The hardest or more costly M2 aircraft operations to insure are low time pilots that are transitioning from a non turbine or multi engine aircraft like a Cirrus SR22. There will be dual pilot requirements for 25 – 100 hours in some cases. Most insurance companies will require pilots to have at least 1,000 hours total time and other turbine time.
Also pilots over 70 years old start to see rate increases, reduced liability limits and further requirements such as annual medical, EKG, and annual full motion simulator training vs in-aircraft.
Claim History
The Citation M2 is a newer aircraft and has a good claims history with the insurance companies. Most M2 aircraft are flown Part 91 Pleasure & Business by owner pilots or Part 91 Industrial Aid by a single pro pilot. Typical claims are engine FOD, hard landings, runway incursions, and weather related physical damage.
Safety Features
The Citation M2 has twin Williams International FJ44-1AP-21 turbofan engines with dual-channel FADECs which are extremely reliable.
Citation M2 insurance rates for single pilots start at around 0.8% of the hull value. Rates can be as high as 3% for low time pilots with some of the lower hull value M2s.
Aircraft Insurance Cost Guide
Learn more about the cost of insurance for private pilots based on your aircraft type and the various factors that affect premium rates. Whether you’re seeking owner aircraft insurance or commercial aircraft insurance, this valuable information will help to make an informed decision about the best coverage for you. If you have any additional questions, please don’t hesitate to reach out!
Flight Training Centers
Citation Aircraft has training centers throughout the US and throughout the world.
See our complete list of approved flight schools and Part 141 flight schools for more information.
Parts Service Centers
Citation Aircraft has Authorized Service Centers throughout the US and throughout the world.